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Regulation

SEC delays start dates for some data for consolidated audit trail

The Securities and Exchange Commission announced Monday that it has updated its timetable for receiving data for its consolidated audit trail from exchanges and the Financial Industry Regulatory Authority, with start dates for specific types of data bumped back by a year.

The first phase of reporting, involving submission of exchanges' equity and options trade data for CAT, is to begin on Nov. 15, exactly one year after the original start date of Nov. 15, 2017, the SEC said in a statement from Brett Redfearn, director, division of trading and markets, on its website.

Also, second-phase equity data — provided by all but small broker-dealers and other trading industry members — was pushed back to Nov. 15, 2019, the SEC said.

Among other deadlines, simple options reporting will begin sometime in May 2020, complex options reporting, May 15, 2021, and customer and account information reporting, Nov. 15, 2021.

The exchanges sought to delay the original start dates for CAT compliance, but the request was rejected in November by Jay Clayton, SEC chairman, who ordered the exchanges and FINRA to come up with a new deadline proposal. The updated schedule was provided in a master plan submitted to the SEC by the exchanges and FINRA in May.

CAT will be a single database for all equity and options trades executed on U.S. exchanges.